US stock futures edged higher, with Nasdaq 100 futures leading the charge after Alibaba’s strong earnings reignited enthusiasm for artificial intelligence. However, the broader market saw mixed movements, with individual stocks reacting to earnings reports and regulatory news. Here’s a look at the key movers in premarket trading.

Biggest Losers

Block (SQ) – Down 8.8%

Fintech firm Block tumbled after missing expectations on both earnings and revenue. The company reported adjusted earnings of $0.71 per share on $6.03 billion in revenue, falling short of analysts’ estimates of $0.87 per share and $6.29 billion in revenue. The disappointing results sparked investor concerns over growth and profitability.

Akamai Technologies (AKAM) – Down 10%

Cloud computing stock Akamai saw a sharp decline after issuing weak guidance for the first quarter. The company projected earnings of $1.54 to $1.59 per share on revenue between $1 billion and $1.02 billion. Analysts had expected stronger results, with forecasts of $1.65 per share in earnings and $1.045 billion in revenue.

UnitedHealth (UNH) – Down 8%

Shares of UnitedHealth came under pressure following a Wall Street Journal report that the Department of Justice is investigating the insurer’s handling of Medicare Advantage payments. The probe centers around the company’s methods for recording diagnoses that could result in higher reimbursements.

Rivian (RIVN) – Down 3%

Electric vehicle maker Rivian fell after issuing a weaker-than-expected delivery forecast for 2025. The company anticipates delivering between 46,000 and 51,000 vehicles this year, a slight decline from the 51,579 delivered in 2024. Despite beating fourth-quarter earnings estimates and achieving its first-ever gross quarterly profit, the muted outlook weighed on shares.

Biggest Gainers

Booking Holdings (BKNG) – Up 3.1%

The online travel giant delivered a strong fourth quarter, with adjusted earnings of $41.55 per share, well above the expected $36.03 per share. Revenue also exceeded expectations at $5.47 billion versus forecasts of $5.18 billion. The results highlight continued strength in travel demand.

MercadoLibre (MELI) – Up 12%

Latin America’s e-commerce leader posted blockbuster fourth-quarter results, reporting $12.61 in earnings per share on $6.06 billion in revenue. Analysts had expected just $7.93 per share on $5.88 billion in revenue. The beat sent shares soaring nearly 12% in premarket trading.

Coinbase (COIN) – Up 4%

Shares of cryptocurrency exchange Coinbase jumped after the company announced that the SEC has agreed in principle to drop an enforcement action against it. The deal still requires final approval, but the news provided a relief rally for investors wary of regulatory scrutiny.

Market Outlook

While individual earnings reports drove significant stock moves, Alibaba’s strong performance helped lift sentiment around AI-related stocks, benefiting the broader Nasdaq 100. However, weak guidance from Akamai and regulatory concerns for UnitedHealth highlight ongoing risks for investors.

As the trading session unfolds, market participants will be closely watching economic data and Federal Reserve commentary for further direction.